Dr. Carole Nakhle, CEO of Crystol Energy, was interviewed on Latvian television channel LTV, where she explained why expectations of a quick increase in Venezuelan oil output are misplaced.
Key takeaways:
Some output can be squeezed from existing operations, but only at the margin, because the system needs time to respond.
Conventional oil projects move slowly, so even with investment today, meaningful production gains typically take years.
New projects face long lead times before production starts, due to development, drilling, and full project delivery.
Existing producing assets still need time to restore infrastructure, raise reliability, and improve operational efficiency.
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